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2017-11-29 08:32:20

PSTG

Pure Storage

$19.02

0.52 (2.81%)

08:32

11/29/17

11/29

08:32

11/29/17

08:32

Pure Storage price target raised to $20 from $15 at Maxim

Maxim analyst Nehal Chokshi raised his price target on Pure Storage to $20 after Q3 earnings beat, saying the results were particularly impressive in light of 4 days below seasonal levels in its days sales outstanding metric. Chokshi also notes the quarter's above-consensus gross margins as well as 50 basis point improvement in productivity. The analyst keeps his Hold rating, highlighting potential risks to the ramp of FlashBlade while noting declining deferred revenues and tougher comps starting with the July 2018 quarter.

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PSTGPure Storage

$19.02

0.52 (2.81%)

11/14/17

WELS

11/14/17INITIATIONTarget $22WELSOutperform

Pure Storage resumed with an Outperform at Wells Fargo

Wells Fargo analyst Aaron Rakers resumed coverage of Pure Storage with an Outperform rating and $22 price target. The analyst calls the company one of his top picks in IT Infrastructure & Communications Equipment.

11/29/17

LEHM

11/29/17NO CHANGETarget $19LEHMEqual Weight

Pure Storage shares likely under pressure in near term, says Barclays

Barclays analyst Mark Moskowitz expect shares of Pure Storage to be under pressure in the near term following last night's Q3 results. The Q4 outlook did not indicate as much upside potential as the bulls may have hoped for, Moskowitz tells investors in a post-earnings research note. He raised his price target for Pure Storage to $19 from $15 and keeps an Equal Weight rating on the name.

11/29/17

JMPS

11/29/17NO CHANGETarget $22JMPSOutperform

JMP says Pure Storage trending to first-ever profitable quarter in Q4

JMP Securities analyst Erik Suppiger noted that Pure Storage reported modest upside for Q3 and benefited from leverage that resulted in record operating margins, which he believes can continue and lead to the company's first-ever profitable quarter in Q4. FlashBlade momentum was slightly off the 2x FlashArray pace mentioned in recent quarters, but Suppiger still thinks there is strong demand for the product, he tells investors. The analyst, who also noted that expectations were high heading into the report, keeps an Outperform rating and $22 price target on Pure Storage shares.

11/29/17

UBSW

11/29/17NO CHANGETarget $22UBSWBuy

Pure Storage price target raised to $22 from $18 at UBS

UBS analyst Steven Milunovich raised his price target on Pure Storage to $22 from $18 following strong Q3 results and earnings upside relative to expectations. The analyst noted guidance was raised to over $1B and the company should post its first profit in Q4. Milunovich still sees Pure Storage as undervalued and he reiterated his Buy rating on the shares.

Snap Inc. (SNAP) is banning ads of initial coin offerings in its Snapchat app, Cheddar reports, citing a company spokesperson. The decision makes Snapchat the latest social media platform to prohibit advertisements for cryptocurrency ICOs, the report says. In contrast to Facebook (FB) and Google (GOOG), however, Snap's current block of ICOs has been in effect since early February and does not apply to different kinds of cryptocurrency ads, the report says. Reference Link

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Amazon has considered the possibility of expanding its retail footprint by acquiring some stores from bankrupt Toys 'R' Us, Bloomberg reports, citing people with knowledge of the situation. The e-commerce giant is not interested in maintaining the Toys 'R' Us brand, but has mulled using the soon-to-be-vacant stores for its own purposes, the report says. Reference Link

President Trump is readying to place a package of $60B in annual tariffs against China, following through on a long-time threat that he claims will punish China for IP infringement and create more jobs in the U.S., the Washington Post reports. The tariff package, which the president intends to unveil by the end of the week, was confirmed by four senior administration officials, the report notes. Senior aides has presented Trump with a $30B tariff package that would apply to a variety of products, but the president directed them to approximately double the amount of new trade levies, the report says. The package could be applied to over 100 products, which the president contends were made by using trade secrets that the Chinese stole from U.S. companies or forced them to hand over in exchange for market aces, the report says. Reference Link